Jaguar Health Reports 2025 Financial Results and Strategic Licensing Agreement with Future Pak

Jaguar Health, Inc. reported its full-year 2025 financial results, showing a total net revenue of $11.5 million, a slight 1.5% decrease from $11.7 million in 2024. The company's net loss widened significantly to $53.6 million ($24.27 per share) compared to $38.5 million ($130.69 per share) in the prior year, primarily driven by an $8.4 million increase in R&D expenses related to crofelemer development and manufacturing. A key strategic shift was highlighted by a January 2026 license agreement with Future Pak for U.S. commercial rights to Mytesi and Canalevia-CA1. Jaguar received a $16 million upfront payment and is eligible for up to $20 million in milestones. This deal allows Jaguar to focus resources on late-stage development for rare-disease intestinal failure indications. Additionally, the company is appealing a Nasdaq noncompliance determination regarding its minimum bid price; a hearing is scheduled for April 7, 2026, which stays any delisting action pending a final decision.